TLDR
- SanDisk stock rose 4.59% Monday to a new 52-week high of $2,284.98, driven by a deepening global NAND flash and SSD supply crunch
- Bank of America raised its price target from $1,550 to $2,100, citing strong pricing power and long-term contract strategy
- Susquehanna holds the Street-high target at $3,250; Mizuho and Cantor Fitzgerald also raised their forecasts
- Apple CEO Tim Cook confirmed a structural memory shortage, calling it a “100-year flood” and warning of unavoidable price hikes
- SanDisk’s most recent quarter saw EPS of $23.41 vs. the $14.17 estimate, with revenue up 251% year over year
SanDisk (SNDK) stock climbed to a new 52-week high on Monday, trading up 4.59% at $2,284.98, as a global NAND flash and SSD shortage continued to fuel a rally that has sent the stock up more than 4,500% over the past 12 months.
The supply crunch stems from memory manufacturers pivoting DRAM and NAND production toward AI infrastructure, squeezing availability for traditional storage products.
That shift has sent chip prices sharply higher — and SanDisk, as one of the primary beneficiaries, has seen its market cap climb to $323 billion.
Bank of America analyst Wamsi Mohan raised his price target on SNDK from $1,550 to $2,100, reiterating a Buy rating. Mohan pointed to strong pricing power and SanDisk’s move toward multi-year contracts as reasons to stay bullish.
Mizuho followed with a raise from $1,825 to $2,200. Cantor Fitzgerald pushed its target from $1,800 to $2,900. Susquehanna holds the Street-high forecast at $3,250.
The consensus across 25 analysts sits at “Moderate Buy,” with the average target at $1,580.67 — still below the current price, which reflects how fast the stock has outrun expectations.
Apple CEO Adds Fuel
The rally got an additional boost from comments made by Apple CEO Tim Cook in a June 18 Wall Street Journal interview. Cook confirmed that Apple would raise product prices due to escalating storage costs.
“Unfortunately, price increases are unavoidable,” Cook said. He described the situation as a “100-year flood,” adding that he had never seen anything like it in over 40 years in the industry.
Those comments reinforced the bull case for memory suppliers — and traders responded.
SanDisk’s last earnings report, released April 30, showed just how sharp the demand spike has been. The company posted EPS of $23.41 against an estimate of $14.17, a beat of $9.24 per share.
Revenue came in at $5.95 billion, up 251% year over year. Net margin stood at 34.19%, with return on equity at 44.06%.
For Q4 2026, management guided EPS to a range of $30.00 to $33.00. Full-year analysts’ consensus sits at $64.01 EPS.
Institutional Buyers Moving In
Major institutions have been building positions. State Street entered a new stake worth $491 million, Norges Bank added $519 million, and Arrowstreet Capital took on $297 million, all in recent quarters.
Purpose Unlimited Inc. also opened a new position in Q4, buying 1,000 units valued at approximately $237,000.
On the insider side, director Necip Sayiner sold 579 units in May at $1,503.11, and insider Bernard Shek sold 600 units in early June at $1,736 under a pre-arranged 10b5-1 plan. Insiders have sold a combined $8.9 million worth of stock over the past 90 days.
From a technical standpoint, SNDK is trading 29% above its 20-day moving average and 270% above its 200-day. RSI had previously entered overbought territory in June, which analysts note signals stretched momentum rather than a fresh breakout.
Key resistance sits at the prior 52-week high of $2,191.69, a level the stock has now pushed above. The 20-day moving average at $1,760.08 acts as near-term support.
The stock’s 52-week low was $40.10.
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